Thursday, March 10, 2011

Update on the EUR/USD - trendline break on 1-hour chart


On the 1-hour chart you can see that the candle broke and closed below my yellow trend line. I placed a market order to sell EUR/USD at 1.3922.















I placed a stop-loss order at 1.3997 which is 10 pips above the previous high of 1.3987.

At 75 pips movement from my sell which is at 1.3847, I will move my stop-loss to break-even.

My profit target is at 150 pips away from my sell at 1.3772.

Trade strategy: EUR/USD trade strategy link

Happy Trading!
FxTaurian

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